rose in premarket trading Friday after receiving an upgrade recommendation from a Jefferies analyst, who cited strong growth in the bank's U.S. credit card portfolio as well as in its Latin American operations. In a research note to clients, Jefferies analyst Kenneth Usdin said he was upgrading Citigroup's stock to buy from hold thanks to positive results stemming from its revenue-boosting efforts this year, as well growth in its Latin America business. Specifically, Usdin said he expects the bank will see improving revenue growth in U.S.-branded credit cards "as customer mix improves and past headwinds abate." What's more, "after a few years of heavy investments" the firm's Mexican banking operations will deliver better returns.

Citi has been selected by Pacific Asset Management , the asset management arm of the Pacific Investments Group, to provide full fund administration and custody services for its Dublin-registered UCITS funds.

The city of Philadelphia has filed an antitrust lawsuit accusing seven major banks of conspiring to inflate interest rates for a type of bond used by cities, towns and other public entities, costing them potentially billions of dollars. In a complaint filed on Wednesday night, Philadelphia accused Bank of America Corp, Barclays Plc, Citigroup Inc, Goldman Sachs Group Inc, JPMorgan Chase & Co, Royal Bank of Canada and Wells Fargo & Co of secretly manipulating rates for tax-exempt bonds known as VRDOs, or variable-rate demand obligations.

“The one thing, no banker, global or financial institution is going to do is run the risk of secondary sanctions,” Rubio, who’s been helping drive the U.S. push to oust Maduro, said in a telephone interview late Wednesday.